Turtle
Price Structure Trap Pattern
Last updated
Price Structure Trap Pattern
Last updated
The Turtle is a strategy based on a price structure trap pattern that tends to trap mostly sellers, potentially offering a swift and extended move to the upside once it begins.
The Turtle emphasizes the importance of implementing patience by stalking trades while the pattern is unfolding.
The "TURTLE FEET" is the area where new sellers may get trapped in short positions.
As price rises to form the "TURTLE SHELL" trapping both new buyers and new sellers, causing confusion as price whipsaws up and down. As the shell pattern unfolds, more short term sellers entering the market likely place their stop losses just above the shell area.
As price slowly grinds towards the "TURTLE FEET" location, new buyers may enter and the sellers near the "TURTLE FEET" likely close their positions at a loss, adding to the buying pressure. Sellers that hold their position hoping for a continuation down begin to feel the squeeze as the "TURTLE NECK" is the first swift movement in price we need to wait for, to confirm the pattern.
Since the Turtle is strictly a price structure pattern, you may want to be on the lookout other signs of confluence at various stages of the pattern:
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